Moderna’s Bancel Steps Down as Sales Chief, Keeps CEO Role (1)

Stephane Bancel is stepping down as chief commercial officer of Moderna Inc., according to a person familiar with the matter. He will remain chief executive officer of the biotech company.

Moderna President Stephen Hoge will assume responsibility of sales as well as medical and research affairs, according to the person, who wasn’t authorized to speak publicly.

Moderna is trying to find a path to profitability in the wake of disappointing vaccine sales. In September, the company said it aims to reduce its research and development budget by about 20% over the next three years and pushed back its target ...